change to joint venture shareholding can anyone shed some light on these new shareholders - rise in share price seems to point to this being good news
INTREPID MINES LIMITED: CHANGE TO JOINT VENTURE PARTNER SHAREHOLDING
New shareholders have joined the register of PT IMN, Intrepid Mines Ltd.'s joint venture partner in the Tujuh Bukit project in Indonesia.
The new shareholders collectively hold 80 per cent of the expanded issued capital in PT IMN, which holds the Tujuh Bukit mining licences.
Under the terms of the alliance agreement between the parties, Intrepid holds an 80-per-cent economic interest in the Tujuh Bukit project, with PT IMN holding the remaining 20 per cent.
The company is in the process of engaging the representatives of the new shareholders in discussion and will provide updates on negotiations, including details of the new shareholders, as appropriate.
Ian McMaster, Intrepid's lead director, will immediately assume the role of deputy chairman, to facilitate negotiations.